Mitsubishi will pay 240 million euros ($319 million) for a 49 percent stake in the BorWin1 and BorWin2 grid connection projects, and 336 million euros for a 49 percent stake in HelWin2 and DolWin2, TenneT said today in a statement. Total investment in all four projects will be 2.9 billion euros, with an equity share of about 40 percent, said TenneT.

Germany is investing in clean energy after announcing it will phase out nuclear power by 2022. While it wants to add 25,000 megawatts of sea-based wind turbines by 2030, the expansion has been delayed after TenneT failed to finish grid connection projects on time. Utilities including RWE AG and EON SE threatened to halt investment because of the delays.

The high-voltage cable projects will be able to connect 2.8 gigawatts of offshore wind farms with networks on land, TenneT said. The grid company operates power lines stretching from Germany’s North Sea coast to the Austrian border south of Munich, serving about 20 million people.